One World Lithium Announces Warrant Extensions and an Update on its Non-Brokered Private Placement
Vancouver - - October 17, 2024 - One World Lithium Inc. (OTCQB:OWRDF) (CSE:OWLI) (the "Company" or "OWL") announces effective on October 18, 2024 the Company will amend the terms (the "Amendment") of an aggregate of 30,121,184 outstanding common share purchase warrants (collectively, the "Warrants") previously issued by the Company as follows: -
12,770,341 of these Warrants are currently exercisable to acquire common shares of the Company at a price of $0.12 until November 3, 2024. Under the Amendment, the term of the Warrants will be extended by an additional twenty-four months (24) to November 3, 2026. All other warrant terms remain the same.
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17,350,843 of these Warrants are currently exercisable to acquire common shares of the Company at a price of $0.12 until December 7, 2024. Under the Amendment, the term of the Warrants will be extended by an additional twenty-four months (24) to December 7, 2026. All other warrant terms remain the same.
Continuation of Non-Brokered Private Placement
The Company also announces further to its news release dated August 14, 2024, the Company is continuing with its offering to close a second tranche of its non-brokered private placement of up to 16,666,666 units (each, a "Unit") of the Company at a price of $0.03 per Unit for gross proceeds of up to $500,000. On August 14, 2024, the Company announced a first tranche closing of the offering and issued 9,231835 Units for gross proceeds of $276,955 leaving 7,433,831 Units to close.
Each Unit will consist of one common share of the Company (each, a "Common Share") and one non-transferable Common Share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.06 for a period of 36 months from the closing of the Offering. All funds are stated in Canadian dollars.
There is no minimum number of Units or minimum aggregate proceeds required to close the offering and the Company may, at its discretion, elect to close the Offering in more than one closings.
The Company is not aware of any material fact or change that has not been generally disclosed.
About One World Lithium Inc.
One World Lithium Inc. remains focused on properties of merit that may contain lithium. The Company is also focused on developing a commercial application of its Direct Lithium Carbonation Extraction Technology to extract lithium in a commercial and cost-effective producing plant. For more information, visit: https://oneworldlithium.com/.
On behalf of the Board of Directors of One World Lithium Inc.,
"Douglas Fulcher"
President and Chief Executive Officer
For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com
or call 604-564-2017 Ext: 3.
Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including, but not limited to: (I) OWL's ability to raise any additional funds from its Offering, (II) the ability of the OWL to further its R&D, to change the lithium extraction industry, and (III) OWL's abilities to commercialize its Direct Lithium Carbonation Extraction ("DLCE") technology. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company's expectations include: (I) inability of OWL to commercialize its DLCE technology (II) OWL's inability to execute its business plan and raise any required financing, (III) risks and market fluctuations common to the mining industry and lithium sector in particular, and (IV) advancements in other new separation technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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